Each of us lives only now, in this brief instant. The rest has been lived already. So make the most thoughtful choices you can today that will lead to a better future.
Steve's Thought of the Day
Stop drifting and hoping a magic solution will appear. Instead, you can participate in rescuing yourself. Find peace by pursuing facts through trusted advisers and research rather than the blind trust of salespeople trying to sell you something by almost any means necessary.
Steve's Thought of the Day
Make decisions to deal with your debt with logic and facts, not assumptions, and worry about what other people will think. People who judge you will soon be forgotten. Nobody thinks about anyone that much.
Steve's Thought of the Day
The world is nothing but constant change. Your life is only a perception. Choose a way out of debt based on facts, not assumptions. Do what is best for your future because those that judge you will not feed you.
Steve's Thought of the Day
Do you have a greater responsibility to repair your financial past or your financial present and future? Make good choices that allow you to tackle your debt and immediately start building your emergency fund and saving for retirement. Tomorrow will be here before you know it. Lost time is a sin.
Steve's Thought of the Day
There is no sense in wasting a perfectly good financial mistake. Instead, learn from it and do better moving forward. The past is gone. Turn and face the future now.
Steve's Thought of the Day
Those who judge you for past financial mistakes are not your friends. So don't make choices about your future out of fear of what they may think. Instead, make choices based on truth, fact, and what is best for you moving forward from today.
Steve's Thought of the Day
Don't believe everything you think. Challenge your assumptions about getting out of debt. Do what is best for you, not others.
Steve's Thought of the Day
Is it less moral to file bankruptcy or to not take action that leaves you old, broke, hungry, and dependent on others?
Steve's Thought of the Day
If bankruptcy is so bad, why did our Founding Fathers specifically include it in the U.S. Constitution as protection for financial difficulties?
Steve's Thought of the Day
Maybe it is time to read what the Bible really says about bankruptcy instead of listening to the assumptions of others. Throw out your misperceptions and you'll be fine. (And who is stopping you from throwing them out?) - Marcus Aurelius
Stop listening to people that say bankruptcy is a last resort. It is neither first nor last. It is a tool like credit counseling, debt settlement, and others. For the best result, you need to use the right tool for the job.
Steve's Thought of the Day
People that tell you to avoid bankruptcy want to sell you something else are repeating something they heard or do not know what they are talking about. Get the facts and then make your own decision. Don't let an unskilled script-reading commissioned salesperson make life decisions for you.
Steve's Thought of the Day
Debt problems are like fingerprints. No two are alike. A one-size-fits-all solution will give you a one-size-fits-all result. You deserve better.
Steve's Thought of the Day
You are not your debt. Your value, self-esteem, and existence should not be defined by the money troubles you may be facing right now. Debt problems are solved with proper action, not guilt, self-hatred, and disgust.
Steve's Thought of the Day
Debt is nothing more than math wrapped in emotion. The math is easy, the emotional part leads us to do impulsive things. Not the right thing.
Steve's Thought of the Day
What type of money personality do you have? It is important to know. Take my online test now and discover how you unconsciously deal with money, credit, and debt.
Steve's Thought of the Day
How much retirement savings are you willing to throw away by dealing with your old debt instead of preparing for your financial future? Find how much you will lose by making the wrong choice. Use my online debt repayment calculator now.
Steve's Thought of the Day
Does it make more sense to ask for life-altering debt advice from an unskilled and untrained commissioned salesperson in a call center or an experienced debt coach like Damon Day that provides a customized solution for money troubles?
Steve's Thought of the Day
Throw out your misperceptions and you'll be fine. (And who is stopping you from throwing them out?) - Marcus Aurelius
We Owe $191,000 in Student Loans And I Need to Go Back to School. – Rob
Myself and my wife are both out of college. I went to a private university, big mistake as my mother tried to tell me, and now between the two of us we are about $191,000 in debt to student loans.
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Thanks to my grandmother, when she passed away she left me enough to pay off any credit card debt we had. I make $40,000 a yr and she makes about $21,000 a yr. We just moved to Virginia for me to get this job. The pay will go up over the next few years as I move up but right now we are behind on almost all the payments.
We pay $1535 a month in rent. I know it is a house payment but it is normal rent around here. We don’t have cable or internet. It is a choice we made to not have another bill. Our car insurance runs us $120 a month and the student loans payments are over $2000 a month.
Our bank account ends every two weeks in the hole and it feels like it is impossible to get ahead. We talked about bankruptcy but it is not an option with student loans. I need to go back to school for about 2 to 3 semesters to finish my degree and then I would be making more.
Problem is the company will reimburse me AFTER I pay for it… Any advice in the right direction would be helpful and if you do hear about any of the wonderful FREE gov funds do please send some my way. Thank you for your time and god bless you for the work you do!
Nothing specific just any good advice from someone who has been there before me.
7 thoughts on “We Owe $191,000 in Student Loans And I Need to Go Back to School. – Rob”
looking for student loans? Student loans : compare and save thousands of dollars on your student loan. At loans.net you will find Private Student Loans, Federal Stafford, PLUS, Graduate PLUS, and Consolidation Loans. Compare, apply and save. http://www.loans.net/
Hi Steve, well I have my BS in Criminal Justice and my MBA. I owe private and federal student loans. I always wanted to go to law schools what would be my better way to do that? Scholarship, grants or another loan if I qualify for one? –Donna
Hi Steve, well I have my BS in Criminal Justice and my MBA. I owe private and federal student loans. I always wanted to go to law schools what would be my better way to do that? Scholarship, grants or another loan if I qualify for one? –Donna
Sounds like a real tight spot. Good for you for sacrificing cable. First I would talk to your lender(s) for your student loans and see if they can work out a better payment option (perhaps you have already). Next make sure you are not having too much in taxes taken out each pay because you are running a tight budget. I am guessing you have about $3,500 per month to work with in total, which obviously will not work. Your two quickest choices are to take a second job (one or both of you) or to get out of your lease, although you’ll have to move at least 30-60 minutes further from your job I realize. I would stall going back to school for about one year as you make some tough sacrifices to get your payments lower on student loans, or increase your income(s).
Good luck,
Bill Pratt Author of The Graduate’s Guide to Life and Money and Extra Credit: The 7 Things Every College Student Needs to Know About Credit, Debt & Ca$h
looking for student loans? Student
loans : compare and save thousands of dollars on your student loan. At
loans.net you will find Private Student Loans, Federal Stafford, PLUS,
Graduate PLUS, and Consolidation Loans. Compare, apply and save.
http://www.loans.net/
where do I sign up? as students we dont have many options when it comes to students loans private or federal.
Hi Steve, well I have my BS in Criminal Justice and my MBA. I owe private and federal student loans. I always wanted to go to law schools what would be my better way to do that? Scholarship, grants or another loan if I qualify for one?
–Donna
Hi Steve, well I have my BS in Criminal Justice and my MBA. I owe private and federal student loans. I always wanted to go to law schools what would be my better way to do that? Scholarship, grants or another loan if I qualify for one?
–Donna
join me in writing the president, congressman and senators for a student loan bailout or you will be paying double and for the rest of your life
where do I sign up? as students we dont have many options when it comes to students loans private or federal.
Dear Rob,
Sounds like a real tight spot. Good for you for sacrificing cable. First I would talk to your lender(s) for your student loans and see if they can work out a better payment option (perhaps you have already). Next make sure you are not having too much in taxes taken out each pay because you are running a tight budget. I am guessing you have about $3,500 per month to work with in total, which obviously will not work. Your two quickest choices are to take a second job (one or both of you) or to get out of your lease, although you’ll have to move at least 30-60 minutes further from your job I realize. I would stall going back to school for about one year as you make some tough sacrifices to get your payments lower on student loans, or increase your income(s).
Good luck,
Bill Pratt
Author of The Graduate’s Guide to Life and Money
and Extra Credit: The 7 Things Every College Student Needs to Know About Credit, Debt & Ca$h
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